Development

TCR Breaks Ground on 36-Story Multifamily High-Rise in San Diego’s Little Italy

by Amy Works November 20, 2020

SAN DIEGO — The Southern California division of Trammell Crow Residential (TCR) has started construction of Simone, a 36-story apartment project located at 1401 Union St. in San Diego’s Little Italy neighborhood. The project is a joint venture between TCR, Pacific Life Insurance and AAA Management. The high-rise will feature 358 market-rate apartments, five penthouses, 32 subsidized apartments for low-income residents, 32,000 square feet of resort-style amenity space and parking. Designed for LEED Gold certification, the 612,000-square-foot community is slated for completion in 2023. The 30-story residential tower will sit atop a six-story podium with three levels of underground parking and four levels of above-ground parking. Apartments will range from 577-square-foot studios to 1,097-square-foot two-bedroom units, as well as five 1,500-square-foot penthouses on the 35th and 36th floors. Interior unit amenities include gourmet kitchens, stainless steel appliances, hard-surface flooring, walk-in closets and all-tile bathrooms. Amenities will include a rooftop pool, spa and entertainment space; a Sky Club with panoramic city views, gourmet demonstration kitchen and indoor-outdoor lounges and dining spaces; a 4,000-square-foot indoor-outdoor fitness center; a 10,000-square-foot outdoor lounge with a movie project screen; dog park, pet lounge and spa; Amazon lockers; a bike repair shop with storage; and a …

November 20, 2020

Development Midwest Missouri Mixed-Use

Kwame Building Group to Construct $81M The City District Project in North St. Louis City

by Kristin Harlow November 19, 2020

ST. LOUIS — Kwame Building Group will serve as construction manager for The City District, an $81 million mixed-use project in North St. Louis City. The project will revitalize 10 blocks in the historic O’Fallon Park neighborhood. A series of new construction and redevelopment initiatives will reimagine 610,000 square feet into retail, single-family and multifamily homes, and community greenspace. The project will be built in two phases with completion slated for spring 2025. The O’Fallon neighborhood is home to many large and historical homes, according to Kwame. In Phase II, $1 million will be invested for the rehabilitation of 26 existing homes. Several large, single-family homes will be converted into multi-use rental properties. AMJ Investment Group is the developer and Jackson Design Group is the architect. Other project partners include the City of St. Louis and Alderman John Collins-Muhammad.

November 19, 2020

Development Midwest Minnesota Multifamily Seniors Housing

Lupe Development Partners, Ecumen Plan to Develop 118-Unit Affordable Seniors Housing Community in Edina, Minnesota

by Kristin Harlow November 19, 2020

EDINA, MINN. — The Edina Housing Foundation has selected Lupe Development Partners and Ecumen to develop 118 units of affordable seniors housing in Edina. The project would be built on a parcel of land near Southdale Mall that the foundation owns. With rents ranging from $650 to $1,600, the proposed development will be affordable to seniors with household annual incomes ranging from $22,000 to $58,000. Ecumen will manage the property upon completion. The project team will work with the City of Edina to develop public art and community programing components. The development will feature one- and two-bedroom floor plans. Amenities will include a fitness center, community room, business center, package and mail center, green roof and walking path connections to the city’s trail system. The next steps are for the project team to begin the development planning and approval process with the city and obtain construction financing. Pending approval, construction could begin in spring 2022.

November 19, 2020

Development Multifamily Texas

Dinerstein Tops Out 33-Story Aspire Post Oak Apartment Tower in Houston

by Taylor Williams November 19, 2020

HOUSTON — The Dinerstein Companies, a locally based developer, has topped out Aspire Post Oak, a 383-unit apartment building located across from a Whole Foods Market in the Galleria area of Houston. The high-rise building will consist of seven floors of parking below the 33 residential floors. Units will feature an average size of 1,210 square feet and will be furnished with modern kitchens, smart technologies and individual washers and dryers. Amenities will include a 24-hour fitness center, infinity pool with tanning decks and adjacent aqua lounge, indoor and outdoor resident event space, a dog park and concierge services. Ludlow & Associates Construction is the general contractor for the project, which will also include 15,506 square feet of retail space. Dinerstein expects to begin leasing Aspire Post Oak in the second half of 2021, with rents starting at $3,000 per month.

November 19, 2020

Development Multifamily Texas

Trammell Crow to Develop 378-Unit Allora Northwest Crossing Apartments in Northwest Houston

by Taylor Williams November 19, 2020

HOUSTON — Trammell Crow Residential will develop Allora Northwest Crossing, a 378-unit apartment community that will be located at 5550 Bingle Road in northwest Houston. Units will feature individual washers and dryers and stainless steel appliances, while amenities will include a fitness center, pool, dog park and a bike storage room. Chris Caudill of NAI Partners represented Trammell Crow Residential affiliate Maple Bingle Apartments LLC in the acquisition of the 16.8-acre development site. Clay Pritchett and Zane Carman, also with NAI Partners, represented the seller, an investment group led by Claude Anello. Allora Northwest Crossing is expected to be complete in the fourth quarter of 2021.

November 19, 2020

Development Industrial Texas

Mesquite City Council Approves Zoning Change for 356,000 SF Industrial Project

by Taylor Williams November 19, 2020

MESQUITE, TEXAS — The City Council of Mesquite, located east of Dallas, has approved a zoning change for a 356,000-square-foot industrial project to be developed by Huntington Industrial Partners. The proposed development would consist of a 240,000-square-foot cross-dock building and a 116,600-square-foot front-load building. The proposed site of the project spans 22 acres on Military Parkway, east of Interstate 635.

November 19, 2020

Development Industrial Texas

TexAmericas Center Breaks Ground on 150,000 SF Spec Industrial Building in Texarkana

by Taylor Williams November 19, 2020

TEXARKANA, TEXAS — TexAmericas Center (TAC) has broken ground on a 150,000-square-foot speculative industrial building in Texarkana. The multi-tenant building will be situated on 24 acres and will feature 32-foot clear heights, one dock door per 5,000 square feet and two drive-in doors. Completion is scheduled for summer 2021. TAC owns and operates one of the largest mixed-use industrial parks in the United States, with roughly 12,000 development-ready acres and 3 million square feet of commercial and industrial product.

November 19, 2020

NorthLight-at-Edge-on-Hudson-Sleepy-Hollow

Development Multifamily New York Northeast

Hines Breaks Ground on 246-Unit Multifamily Project in Sleepy Hollow, New York

by Taylor Williams November 19, 2020

SLEEPY HOLLOW, N.Y. — Houston-based developer Hines, in partnership with MetLife Investment Management, has broken ground on NorthLight at Edge-on-Hudson, a 246-unit multifamily project in Sleepy Hollow. The property will offer studio, one- and two-bedroom units ranging in size from 565 to 1,406 square feet with high-end finishes. Amenities will include a pool, outdoor kitchens, fire pits, open green spaces and lounge areas for social or coworking use, two penthouse terraces and a roof deck, an indoor clubhouse with coworking space, fitness center, kid’s play area and a communal kitchen and wine lounge. Leasing is scheduled to begin in the first quarter of 2022, with full completion slated for the third quarter of 2022. Santander Bank provided construction financing.

November 19, 2020

Affordable Housing Development Loans Massachusetts Multifamily Northeast

MassHousing Provides $36M Construction Loan for Boston Affordable Housing Project

by Taylor Williams November 19, 2020

BOSTON — MassHousing has provided a $36 million construction loan for the development of The Loop at Mattapan Station, a 135-unit affordable housing community located in the Mattapan area on the south side of Boston. Preservation of Affordable Housing, a nonprofit organization, is developing the building, which will house 10,000 square feet of ground-floor retail space and is expected to be complete in June 2022. The unit mix will include six studio apartments, 38 one-bedroom apartments, 81 two-bedroom apartments and 10 three-bedroom apartments.  Approximately 30 percent of the units will be designated as workforce housing.

November 19, 2020

Development Loans Massachusetts Multifamily Northeast

Fantini & Gorga Arranges $19.9M Construction Loan for Metro Boston Multifamily Project

by Taylor Williams November 19, 2020

CANTON, MASS. — Mortgage banking firm Fantini & Gorga has arranged a $19.9 million construction loan for Millside at Heritage Park, a 60-unit multifamily project in the southern Boston suburb of Canton. The age-restricted community will offer one- and two-bedroom units averaging 1,076 square feet, with 25 percent of the units reserved for households earning 80 percent or less of the area median income. Casimir Groblewski and Lindsay Feig of Fantini & Gorga arranged the loan through HarborOne Bank and Bristol County Savings Bank on behalf of the borrower, 104 Revere Street LLC.

November 19, 2020

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